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CardioDynamics Reports Second Fiscal Quarter 2009 Results
Date:7/9/2009

SAN DIEGO, July 9 /PRNewswire-FirstCall/ -- CardioDynamics (Nasdaq: CDIC), the innovator and leader of BioZ(R) Impedance Cardiography (ICG) technology, today reported financial results for fiscal second quarter 2009. Highlights include 11% sequential revenue increase over Q1 2009 and 8% sensor growth compared with Q2 2008, the third consecutive quarter of year over year sensor growth.

Sales Highlights of Second Quarter 2009 Compared with Second Quarter 2008

  • Over 9,000 ICG monitors and modules sold to date, up 10% from 8,200 one year ago
  • ICG device sales totaled 169 units, including 129 stand alone ICG monitors, 94 of which were BioZ Dx systems, 10 BioZ monitors, and 25 Medis ICG monitors
  • ICG sensor revenue increased 8% to $1.9 million, comprising 33% of total sales compared with $1.7 million and 28% of revenue in Q2 2008
  • Field sales headcount totaled 69 associates, up from 67 one year ago

Key Financial Results of Second Quarter 2009 Compared with Second Quarter 2008

  • Operating cash use was $340,000, an improvement of $150,000 or 31%, from $490,000
  • Cash, cash equivalents and short-term investments at May 31, 2009, of $4.2 million
  • Operating loss was $1.1 million, which included $162,000 of non-cash charges for depreciation, amortization and equity compensation and $250,000 of merger transaction related expenses

Second Quarter 2009 Operating Results Discussion

The Company reported net sales of $5.7 million, a 9% decrease from second fiscal quarter 2008, but an 11% sequential increase over first fiscal quarter 2009. Year over year ICG sales decline was driven by 22
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SOURCE CardioDynamics
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